I didn't look at what could be taken out - I was just reflecting on the "no dependencies" thing. But you might be right... maybe it's as bare bone as need be.
Also I might be coloured by some folks avoiding dependencies like the plague ;) I usually prefer small modules coupled with other small modules as the result usually means more tested code (when related to node.js that is).
Not sure what you are wanting to be taken out?
Also, it does have dependencies (check package.json); you just took a quote out of its context.